Aerospace and defense company BAe Systems has divested its remaining 6.9% shareholding in Air Astana (KC, Astana Nursultan Nazarbayev), according to March 19 disclosures on the Kazakhstan and London stock exchanges.

BAe Systems sold 6,109,982 global depositary receipts (GDR) at USD5.1 each to a group of institutional investors. Following the transaction, the company no longer holds any stake in the airline.

The British firm was a founding investor in Air Astana, having entered a 49/51 joint venture with the Kazakh government to establish the flag carrier in 2001. It reduced its stake to 16.9% in February 2024 when the airline went public, and further divested 10.1% in December 2025.

"We recognise that Air Astana was no longer a core holding in the context of their wider operations, and we look forward to welcoming new shareholders to the group at this exciting point in our development," said Air Astana in the filing.

As previously reported by ch-aviation, Air Astana resumed its share buyback programme in March 2026, repurchasing up to 1,506,583 shares, or approximately 0.4% of its issued share capital. The carrier has been conducting buybacks in multiple tranches since 2024 as part of its ongoing capital management strategy.